TOKYO, April 9 (Xinhua) -- Japan is considering an additional oil release equivalent to 20 days of domestic consumption from its reserves in May, as uncertainty persists over safe passage through the Strait of Hormuz, local media reported on Thursday.
The Japanese government began its largest-ever oil stockpile discharge in mid-March to secure stable supplies after the outbreak of the Middle East conflict in late February left the key oil shipping route largely closed.
The amount being released is equivalent to about 50 days' worth of domestic demand, drawing on oil reserves held by the state, the private sector and oil-producing Gulf countries.
Although the United States and Iran reached a two-week ceasefire shortly before U.S. President Donald Trump's self-imposed deadline, it remains uncertain whether shipping through the Strait of Hormuz can resume smoothly or return to pre-war operating conditions.
Japan's industry ministry is therefore weighing up an additional release on concerns that the effective closure of the strait could persist, Kyodo News reported, citing a source familiar with the matter.
Resource-poor Japan relies on the Middle East for more than 90 percent of its crude oil imports. The shipping disruptions have driven sharp rises in energy and other costs in the country. ■